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Seeing Machines Appoints In-Tech Electronics To Ramp Up Production

(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Seeing Machines Ltd said Wednesday that it had appointed Hong Kong based electronic equipment manufacturer In-Tech Electronics Ltd to ramp up the production of its Driver Safety System.

The agreement with In-Tech is for an initial three years, and will allow it to meet current demand and expected increases in demand following its strategic agreement with Caterpillar Global Mining LLC in May, 2013. It will also allow it to reduce its manufacturing and logistics costs, and reduce production lead times, it said.

"We will enjoy immediate cost-savings, and given In-Tech's record of delivering high-tech hardware solutions, we are confident about our future manufacturing platform," said Chief Executive of Seeing Machines Ken Kroeger in a statement Wednesday.

Shares in Seeing Machines were trading up 0.4% at 308.78 pence Wednesday morning.